Reaching at agreement

Illustrative image. (Photo: SGGP) According to Mr. Nguyen Ngoc Dung, Chairman of Vietnam E-commerce Association (Vecom), in 2021, despite being heavily affected by the Covid-19 pandemic, Vietnam's e-commerce still maintained a good growth momentum with an increase of about 20 percent and a scale of $16 billion. Keeping the growth momentum, Vietnam is now one of the countries with the largest e-commerce market size in the region, besides Indonesia, Thailand, and Malaysia. Vietnam's internet economy in 2021 grew by 31 percent compared to 2020 and reached a scale of $21 billion. Of which, the online retail sector enlarged by 53 percent and touched a scale of $13 billion. There are two waves that have contributed to the steady development of e-commerce in Vietnam in 2020 and 2021 and will be the driving force for the next period. The first wave took place during the early stages of the Covid-19 pandemic in 2020, and the second one from June to September 2021, during the fourth … [Read more...] about Opportunities for e-commerce in Vietnam to boom

The forum drew the participation of hundreds of Algerian economists, businessmen and investors as well as representatives of economic organizations and embassies of African and European countries. Addressing the event, he said the forum is a good opportunity for Vietnam to explore the trade and investment potential of Annaba province and strengthen economic cooperation between Algeria and Vietnam in general. The official emphasized the potential and strengths of Vietnam with a vast market of nearly 100 million people and an open economy. Despite the negative impacts of the COVID-19 pandemic, the country recorded economic growth of 2.58 percent, which is expected to reach 6.5 percent this year. Vietnam is benefiting from free trade agreements, including the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the E.U.-Vietnam Free Trade Agreement (EVFTA). The African Continental Free Trade Agreement opens up an opportunity for Vietnamese companies to … [Read more...] about Vietnam seeks to expand economic cooperation with Algeria

Speakers at the Viet Nam–UK Business Forum, which took place in London on Wednesday. — VNA/VNS Photo Viet Nam wants to see more investment from the United Kingdom (UK) in hi-tech agriculture, in cultivation, processing, preservation and distribution of farm produce and foods, said Deputy Minister of Agriculture and Rural Development Phung Duc Tien. He made the statement at the Viet Nam–UK Business Forum held by the Ministry of Industry and Trade and the Ministry of Agriculture and Rural Development, in collaboration of the UK Department of International Trade (DIT) in London on Wednesday. The forum discussed prospects for trade and investment between the two countries’ enterprises in agriculture, education, renewable energy and others. It also provided a platform for Viet Nam to introduce its market potential to British investors and for firms from both sides to share information and seek partnerships to make the most of the UK-Viet Nam Free Trade Agreement (UKVTFA). The UK … [Read more...] about Viet Nam, UK strive to lift trade and investment relations

He made the statement when delivering an opening remark at the Vietnam – U.K. Business Forum held by the Ministry of Industry and Trade and the Ministry of Agriculture and Rural Development in collaboration of the U.K. Department of International Trade (DIT) in London on May 25. The forum discussed prospects for trade and investment between the two countries’ enterprises in agriculture, education, renewable energy and others. It also provided a platform for Vietnam to introduce its market potential to British investors and for firms from both sides to share information and seek partnerships to make the most of the U.K.-Vietnam Free Trade Agreement (UKVTFA). The U.K. remains a major and trusted partner of Vietnam and its agriculture industry, Tien said, noting that agricultural cooperation between the two nations has made significant progress over recent years. He expected British companies will form close and trusted joint ventures and partnerships with Vietnamese agribusinesses … [Read more...] about Vietnam, U.K. strive to lift trade and investment relations

Tra fish exports are projected to surge a whopping 97 percent year-on-year in the first five months of 2022, reaching 1.1 billion USD. Besides exporting to traditional markets such as the U.S. and Europe, seafood exporters have expanded markets to take advantage of the new demand. Specifically, Vietnam has trolled new fish markets in Mexico, Egypt and Thailand. VASEP expert Ta Ha said that the Mexico market has the largest export value in the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) trade bloc. Tra fish sales to Mexico topped 50 million USD in the first five months of this year, an increase of 70 percent against last year’s figure. Shipments to Thailand hit nearly 50 million USD during the period, a year-on-year spike of 80 percent. Vietnam exported over 15 million USD worth of tra fish to Egypt, up 85 percent year-on-year. These are positive signs that tra fish is a favored seafood product in these fresh new markets. VASEP reports that … [Read more...] about Huge haul in new markets for Vietnam’s tra fish exports